In a regulatory filing on September 9, 2024, Godawari Power and Ispat Limited (GPIL) announced that Alok Ferro Alloys Limited (AFAL) has become a wholly-owned subsidiary of the company. This transition occurred after AFAL’s buyback of 2,991,875 equity shares, in which GPIL chose not to participate. As a result, AFAL is now fully controlled by GPIL, with its ownership increasing from 88.34% to 100%.
AFAL, a Raipur-based company specializing in ferroalloy production, has operated for over three decades, with its turnover in recent years reaching Rs. 13,465.31 lakhs (2021-22), Rs. 6,911.68 lakhs (2022-23), and Rs. 9,620.89 lakhs (2023-24).
